USD/SGD may rise 26 - 39 pips

Our pivot point is at 1.3430.

Our preference

The upside prevails as long as 1.3430 is support.

Alternative scenario

The downside breakout of 1.3430 would call for 1.3410 and 1.3397.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is below its 20 period moving average (1.3448) but above its 50 period moving average (1.3446).

Supports and resistances

1.3510 **

1.3498 *

1.3486 **

1.3473

1.3447 last

1.3438

1.3430 **

1.3410 *

1.3397 **

Number of asterisks represents the strength of support and resistance levels.